In context: Just as one breach saga comes to a close, another has already begun -- mere days after we reported on Equifax's long-awaited $575 million settlement with the FTC (following the former's massive data breach), Capital One has disclosed a significant data breach of its own. We covered the story in more detail earlier today, but now we have some follow-up news to discuss.

New York Attorney General Letitia James -- a woman known to scrutinize major corporations following scandals -- announced on Twitter today that she and her team are beginning an "immediate" investigation into the Capital One breach. James also expresses her frustration with the frequency of these hacks, saying that they are "becoming far too commonplace."

James hopes that, after finalizing her investigation, she'll be armed with the knowledge and power to provide New York-based victims of the Capital One breach with "relief." It's unclear what she means by that, but presumably, she will fight for compensation of some sort; whether it comes in the form of cash payouts or free services.

To summarize the incident for anyone who hasn't looked into it too heavily, the recent Capital One hack exposed the information of over 100 million US and Canada-based users. In short, if you applied for Capital One credit card between 2005 and now, you may be at risk. Compromised details include addresses, names, emails, phone numbers, and -- in a handful of cases -- even social security numbers and credit scores.

Though not quite as bad as the Equifax breach (which exposed the private financial details of roughly 147 million Americans), this event is still quite serious. If you've been affected by this breach and want to obtain compensation, you'll probably be waiting a while.

It took Equifax roughly two years to reach a settlement and given Capital One's immense legal resources, we can probably expect any similar agreements (if they occur at all) to take roughly as long.